Aliyu Galadima
It is a child of destiny. It survived almost two decades of miscarriages and protracted labour to emerge as the best possible elixir to red flag issues in Nigeria’s petroleum industry. This child, the Petroleum Industry Act 2021, has been widely adjudged by most – and rightly so – as an important lever to drive a sound legal, fiscal, and regulatory framework in the industry. But even the soundest laws require the right people to achieve seamless implementation. To align with the huge expectations of Nigerians, this child, the PIA, must hit the ground running – on the strength of seasoned professionals and collaboration of all stakeholders.
While there are pockets of dissenting positions regarding some of the provisions of the PIA, the law gives the nation her best shot at optimising value from all segments of the petroleum industry. President Muhammadu Buhari couldn’t have been more apt when he noted that the non-passage of the law had stagnated the growth of the industry, costing the nation well over $50 billion worth of investment. Now, the stage is set for investments that would boost employment, revenue, and the development of other critical sectors of the economy.
It is apparent that the stage is set for key appointments into some critical positions created by the provisions of the PIA. The PIA has introduced a new Nigerian Upstream Regulatory Commission and Nigerian Midstream and Downstream Petroleum Regulatory Authority. While the former will be responsible for upstream regulatory functions, the latter would regulate activities in the midstream and downstream sectors.
It would be interesting to see how these new regulatory organs will mould the sector according to the intent of the PIA. Of particular interest is the fact that effective oversight functions of the upstream, midstream and Downstream will set off a value chain that optimises benefits right from the mining of hydrocarbons to getting petroleum products to Nigerians – especially the informal sector which should the heartbeat of economic prosperity.
Consequently, we are looking to see value creation in exploration and production, supply and distribution of natural gas and petroleum products; enhanced development of infrastructure in the sector; fair tariff/pricing for all stakeholders and overall best practice that will make the sector competitive regionally and globally.
Seeing that the pressure of aligning the provisions of the PIA to the well-being of the sector and Nigerians will rest squarely on the shoulders of the individuals who head the regulatory roles, Nigeria must get it right. The appointments must not in anyway be ensconced in the politics of tribe and mudslinging. The individuals who emerge should be seasoned. We need our best hands to achieve the transformation of the petroleum sector.
The above shouldn’t be such a huge task as Nigeria has eminently qualified professionals that can deliver on the mandate of the law and expectations of over 200 million Nigerians. For this author, one name catches the eye, given that the individual comes with expertise that makes him stand out. An accomplished engineer, lawyer, and technocrat, Gbenga Olu Komolafe has almost 30 years experience in the Nigerian oil and gas sector. He served in the nation’s Federal public sector, operating at the highest levels of the downstream and upstream sectors.
Working with with Dr. Oluwole Oluleye, Komolafe was the arrowhead that facilitated the creation of the Petroleum Products Pricing Regulatory Agency (PPPRA) in 2003 for effective regulation of supply and distribution of Petroleum products. Komolafe also served at various top positions at the Petroleum Products Marketing Company (PPMC), Petroleum Equalisation Fund (PEF), Nigerian Pipeline and Storage Company Limited and the Nigerian National Petroleum Company (NNPC), among others.
The industry has ample records of how Komolafe’s steering of various upstream and downstream regulatory agencies yielded reforms that facilitated efficiency and attendant huge monetary value for Nigeria. The PIA could do with Gbenga’s expertise to set the right foundation for implementing the law seamlessly.
A Fellow of Nigerian Society of Engineers, Council of Registered Engineers of Nigeria, COREN and member of the Nigerian Bar Association, Gbenga’s expertise as a seasoned engineer and lawyer is required at this time to give the PIA the right impetus. Interestingly, the ‘jostle’ for Gbenga membership between the Nigerian Society for Engineers (NSE) and the Nigerian Bar Association (NBA) represents a mark of distinction that every organisation needs to secure exceptional performance.
The PIA needs professionals of stellar qualities; individuals who have an exceptional grasp of how we can translate the potential benefits of the PIA into actual wins for Nigeria and Nigerians. This child of destiny needs the best form of nutrients at this most important point of implementation. It must be substance over sensation, professionalism over tribe, and sustainability over quick fixes. Nigeria, the PIA is a harbinger of new possibilities for the petroleum industry. We must not let this child die.
Galadima, a public affairs analyst wrote in from Kaduna
